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Shop price inflation in the UK eased to 0.6% annually in May from 0.8% in April, as all categories showed weaker price pressure, according to a reading released on Tuesday.
The BRC-NielsenIQ shop price index increased at its slowest annual rate since November 2021, the British Retail Consortium said.
Non-food prices remained in deflation at 0.8%, steepening from a 0.6% annual decline in April.
Food price inflation, meanwhile, slowed to 3.2% this month from 3.4% in April. Fresh food prices were up by 2.0% on a year before in May, slowing from 2.4% in April. Ambient food prices were up 4.8%, slowing from 4.9%.
‘After a number of months of falling input prices, we are now seeing food inflation stabilise and retailers continue to pass on price cuts to shoppers,’ commented Mike Watkins, head of Retailer & Business Insight at NielsenIQ.
‘Across the industry whilst inflationary pressure has eased and there is some improvement in shopper sentiment, the unseasonable weather has damped retail sales, so lower prices look set to continue and promotional activity is likely to increase drive demand.’
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